Becky's Bungalow Bets for June 9, 2024: 5 New + DIY Tax Protest Tips

Hello BBBB Friend,

School's out, vacations have kicked off, and it might seem like things are slowing down for the summer—but not so fast! I'm convinced there are plenty of potential buyers still on the hunt, making summer an ideal time for those sticking around town. This week, I’m showcasing five of the most interesting new listings. Additionally, I have updates on homes that are Still on My List. Although there haven't been any price reductions this time, click HERE to see new contracts and finalized sales.

YOUR DIY PROPERTY TAX PROTEST

You've dutifully sent in your property tax protest paperwork by the May 15 deadline—what comes next?

The term "Tax Protest" might sound like you're gearing up for a march, but it's actually about challenging the assessed market value of your property as of January 1, 2024. Since altering the tax rate isn't within your power, your best bet for lowering your taxes is to decrease the market value. Sure, you could hire a firm to handle this—expect to fork over 25-50% of the tax savings they snag for you—or you could roll up your sleeves and tackle it yourself. According to the Harris County Appraisal District, in 2021, do-it-yourself protests had an 82% success rate, compared to just 53% for those using an agent.

Ready to dive in? Here are some top strategies to help you succeed in lowering your market valuation:

1. Access Your Evidence: Start by getting your "I-file" from HCAD to review the evidence they used to set your Market Valuation. This file includes "comps" or comparable properties that match yours in size, layout, and condition.
2. Find Better Comps: Don’t just rely on HCAD’s data. Use their advanced search function to hunt down your own comps, or even better, have a real estate friend generate a Competitive Market Analysis for you.
3. Present Your Case: Arm yourself with "evidence," like photos and repair estimates, that can justify a lower valuation. Whether it’s aging windows, wood decay, or unsettling cracks in the foundation, every little bit helps in making your case.

Navigating the world of property tax protests may seem challenging, but with the right information and some diligent effort, you can build a strong case for reducing your assessed value.

Let's look at houses or talk about selling yours!
Becky

CLICK HERE FOR THIS WEEKS BEST BUNGALOW BETS